(1) Eligibility criteria for transferor;
a. Preferably a quality BOCOM customer with a credit rating above AB;
b. Good business operation, with a stable market for its products;
c. Meets BOCOM’s requirement as a borrower with guarantee-exemption
d. Providing bona-fide documents on one’s financial status, business conditions, catalogue of purchasers; names and credit-standing as required by BOCOM.
e. Transferor has opened a settlement account at BOCOM.
(2) Eligibility criteria for receivables acceptable to the bank
a. Receivables arising from product transactions carried out by transferor through credit extensions;
b. Receivables arising from legal, bone-fide, dispute-free product transactions;
c. Transferor has signed a sales contract with buyer, with proof of sales invoice and delivery certificates generated under the contract.
d. Receivables that, in principle, have been generated in the recent 30-day period.